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Don’t Send Your Child off to College Without This

As high school students finish their senior year of high school and head off to college, their summers are typically filled with graduation parties and goodbyes as they prepare for college.   Students schedule their classes and make trips to Target to get ready for the school year, but one important detail is rarely discussed.    Most […]

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Wealth Watch

The Dog Days of Summer

In ancient times, the “dog days” coincided with the heliacal (at sunrise) rising of Sirius (the dog star), and were believed to be times of drought, bad luck, and unrest, when people and dogs alike were driven mad by the extreme heat. Nowadays, the “dog days of summer,” typically refers to the period of particularly […]

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Blog

3 Important Updates to the 2020 Required Minimum Distribution Waiver

On June 23rd, the IRS issued additional guidance regarding 2020 required minimum distributions (RMDs).  As you may remember, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) waived many required minimum distributions for 2020.  However, there were still a few taxpayers that may not have been afforded relief under the CARES Act – that […]

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Working Wealthy – 2020 is the new 2009

Perfect is the enemy of good. I’m not certain who said it first. I understand it relates back to an Italian proverb, and it appears Voltaire was the first to pen a paraphrasing of it. In any event, let’s not get bogged down with precision on the source of the learning. Let’s focus on how, […]

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Your Financial Plan and Lessons From a Historic First Six Months of 2020

Despite market volatility, staying disciplined kept your plan on track in 2020.

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Careful Planning for College Refunds – Avoiding Tax on 529 Distributions

Due to their tax-advantaged nature, 529 college savings plans have quickly become one of the most popular ways for families and individuals in the United States to set money aside for college.  These accounts offer special income tax deductions in many states for those that contribute to a 529, and any growth from investments within […]

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Wealth Watch

Show Me the Earnings!

With all the debate about what type of recovery our economy will have, we’ve seen the markets clearly reflect one position: a V-shaped recovery for stocks. Since the 3/23/2020 bottom, no matter which portion of the market you look at, prices have gone up significantly. Now a lot of the attention is shifting to whether […]

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Best States to Retire In

Many factors influence the decision of where to retire.  Family, familiarity of surroundings, climate, and cost of living are just a few to consider.  What about state taxes?  They are often overlooked and just “accepted” as an expense.  In the current environment, the trend of where taxes could go based on the financial stability of […]

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Stock Options and Restricted Stock – Key Things to Consider In this Downturn

If you are an executive working for a public company, it’s likely that a big portion of your wealth is tied to your company stock. As stock prices fall, obviously the value of your stock-based compensation also drops. This can be paralyzing. Amid the chaos, how do you answer the simple question: “what should I […]

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Wealth Watch

Fed Moves

It has only been two months since the stock market hit its low point following the Covid-19 sell-off. Yet, if you are like me, it probably feels like a lifetime ago. The sell-off was rapid and indiscriminate. Not only did stocks fall quicker than ever before, bonds sold off as well. Then, when things were […]

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Secret Retirement Saving Super-Power: The Mega Back Door Roth

For high earners and big savers, there are limitations on contributions to designated retirement accounts. Specifically, in 401k accounts, the maximum you can deduct from your salary is $19,500 in 2020. For those over 50, a “catch-up” contribution is allowed up to an additional $6,500. What many don’t know about 401k accounts is that there […]

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4 Financial Improvements to Make During Quarantine

As we all adjust to the realities of the COVID-19 pandemic, we find ourselves with a lot more time at home due to the Stay at Home order.  Our commute times are now a simple walk down the stairs, many of the social gatherings that filled up our weekends are cancelled, and that means more […]

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